Chola MS Home Package Policy - GrihaRaksha Policy

A home package policy by Cholamandalam protects your home structure, the household contents, and the family members against several unforeseen risks. This policy is a comprehensive plan that offers you three-fold protection at the most affordable premium rates.

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Chola MS Home Package Policy - GrihaRaksha Policy

4.4 (120 reviews)
Get insurance for Home loan or Personal security in just 5 minutes.


Chola MS Home Package Policy - GrihaRaksha Policy

4.4 (120 reviews)
Get insurance for Home loan or Personal security in just 5 minutes.
What’s covered?
Violent disturbance
Fire
Natural disasters
Policybazaar advantages
365 days support system
Easy claim process
Instant online policy issuance

**All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*The premium of ₹ 9/month is for a pucca building with sum insured of ₹ 5 lakh at selected locations, for property age less than 40 years and policy term of 1 year. Additional premium is payable for the optional covers including contents opted.

Protect your house from calamities

cover starting just @ ₹9/month*

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**All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*The premium of ₹ 9/month is for a pucca building with sum insured of ₹ 5 lakh at selected locations, for property age less than 40 years and policy term of 1 year. Additional premium is payable for the optional covers including contents opted.

Chola MS Home Package Policy - GrihaRaksha Policy: Key Features

Categories Key Benefits
Policy Duration Available for 1-10 years
Buildings Covered All types of residential properties
Key Specifications* Comprehensive cover
The hassle-free claims settlement process
Quick and easy purchase or renewal process
Coverage* Coverage for the loss caused due to burglary and housebreaking
Loss of baggage is covered
Cost of hospitalization expenses and in-built PA cover
Covers different liabilities, such as tenant liabilities & public liabilities
Policy Cancelation Available

*Disclaimer- Kindly go through the policy wordings to understand the exact coverage offered by the Chola MS Home Package – GrihaRaksha Policy

Inclusions of Chola Home Package – GrihaRaksha Policy

This comprehensive home insurance plan offers coverage to residential properties from loss or damage due to fire, burglary, natural calamities, and man-made hazards. Here is the list of inclusions of the Chola Home Package - GrihaRaksha Policy-

  1. Protection against the loss caused due to burglary and housebreaking

    Unlike the standard Griha Raksha Policy, this home package policy covers the insured property (excluding money and valuables) in respect of loss or damage due to burglary and/or housebreaking.

  2. Coverage for loss of personal baggage

    This policy offers financial coverage in case there is loss, destruction, or damage of personal baggage of the insured or his family members in the insured site.

  3. Personal Accident (PA) cover

    The policy has in-built Personal Accident (PA) cover for the insured and their spouse. However, it is only applicable in case of permanent total disability or death due to any insured perils.

  4. Hospitalization expenses

    The policy covers the cost of hospitalization in case of injury arising out of an accident at the insured site.

  5. Covers home utility appliances

    It covers the insured home contents, including damage or loss of several home utility appliances due to mechanical/electrical breakdowns. In addition to this, the policy covers the insured home appliances in case of total loss or substantial loss.

  6. Coverage for garden

    This section in the insurance policy compensates the insured against the total loss or substantial destruction of the maintained, cultivated, nurtured, or developed garden due to cyclone, storm, hurricane, tempest, typhoon, tornado, flood, inundation, rockslide, landslide, or subsidence.

  7. Pet animal coverage

    The policy is designed with in-built coverage in case the insured makes a loss due to the death of a beloved pet animal in the insured property.

  8. Protection for jewellery and other precious metals (optional cover)

    Under this policy, this is an optional cover where the customer can opt to cover the loss or damage to their jewellery or any other precious metal due to an accident or misfortune mentioned in the policy documents anywhere in India.

  9. Covers public liability

    The policy covers the public liability arising out of the accidents during the policy tenure. Under this, the insurer is liable to pay for accident bodily injury to the third party or accidental damage to their property due to any insured perils.

  10. Covers tenant liability

    The policy offers coverage in case of tenant liability arising from the perils stated as per Section I and II in the policy documents.

  11. Covers the funeral costs

    The policy covers the funeral costs in case of the death of the insured or their immediate family members due to insured peril in the home.

Exclusions of Chola Home Package – GrihaRaksha Policy

The Chola Home Package policy does not cover the losses and expenses arising from the following events stated below-

  1. Loss or damage caused due to a deliberate act by the insured or on their behalf
  2. Damages to the insured property due to war, invasion, the act of a foreign enemy, war-like operations, civil commotion, rise of the military, revolution, civil war, mutiny, or usurped power
  3. Loss or damage caused due to contamination from any nuclear waste or fuel. It also does not compensate in the case when the damages are caused due to ionizing radiation, contamination, or due to radioactive explosions
  4. Loss or damage due to pollution or contamination caused due to any insured perils in the home structure
  5. Loss or damage to precious stones, bullion, drawings, manuscripts, cash, coins, securities, bullions, cheque, vehicles, and any other explosive substances that are particularly mentioned or stated in the policy documents
  6. No coverage if there is a reduction in the market value of the insured property once the repair is initiated
  7. No coverage if the damaged home contents are removed from the insured place to any other place.

*Disclaimer- Refer to the policy wordings to know the exact coverage.

How to Endorse or Modify Your Chola Home Package – GrihaRaksha Policy Details?

To make any changes or modifications in name, address, or any other details in the policy documents, you contact the insurer and raise the endorsement request. The request will be accepted, and changes will be implemented in the policy documents.

Who All Can Buy Chola Home Package - GrihaRaksha Policy?

In India, all homeowners can buy this policy to protect their prized possession and the belongings within the home. However, if you are a tenant, you can secure your valuable possessions and contents of the home with this policy.

Claim Procedure for Chola Home Package – GrihaRaksha Policy

In the event of any emergency mentioned in your policy documents, please ensure that you inform the respective authorities as early as possible. However, below is a step-by-guide for raising claims under property insurance by Chola MS-

  • Give immediate notice to the legal authorities’ right after an emergency hits you. They will take all the necessary steps to prevent further losses.
  • In case of strikes, riots, or other malicious activities, inform the local police authorities immediately.
  • Intimate your insurer in case of physical loss or damage caused to the insured property or its content due to any insured event mentioned in your policy documents.
  • Take all the essential safety measures to prevent other damage or loss to your insured home structure.
  • Do not try to dispose of or sell any damaged contents of your house without informing your insurer.
  • Next, you can easily download, fill, and submit the signed claim form available on the insurer's website at the earliest; however, within 30 days from the date the incident took place.
  • The insurer will appoint a surveyor to examine the situation and design an assessment report. As per the report, the insurer will compensate you for the losses.

FAQs

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 120 Reviews)
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Reviews & Ratings

4.4 / 5 (Based on 120 Reviews)
(Showing Newest 10 reviews)
Virendra
Bokaro, July 26, 2022
Coverage for natural calamity
I was looking for an insurance policy that provides me coverage for natural calamity. Since my house is located near a river and it floods my area in the rainy season. So i went on the Policybazaar website and particularly look for this coverage found the exact plan that provides this coverage.
Sunil
Bilaspur, July 26, 2022
Premium Calculation
I was looking for a home insurance policy online. I stumblled upon the Policybazaar website and it is one of the best online platforms to purchase home insurance policy. I learned about the insurance plan i wanted to purchase and after choosing the plan and add ons i could calculate the premium using their online premium calculator. Thanks Policybazaar.
Manish
Bikaner, July 26, 2022
Natural Calamity cover
I have recently purchased a flat and wanted to cover it with a home insurance policy. I was aware of the Policybazaar website so i thought i should give it a try. I went on their website and as i wanted to cover my flat with a natural calamity cover specifically i searched for it and without wasting a minute it showed me the natural calamity coverage.
Mohit
Amritsar, July 26, 2022
Enough coverage
I was looking for a home insurance plan online. I was fed up as i have to visit different websites to look for a single suitable insurance plan. However, i stumbbled upon Policybazaar website where i was able to find the right insurance plan that could provide me enough coverage.
Sahil
Bareilly, July 26, 2022
Nice customer service
I wanted to purchase a home insurance policy and a friend of mine suggested to purchase it from Policybazaar. I bought the policy and after that i had a confusion regarding exclusions so i called up Policybazaar customer care and they cleared out the confusion and i loved their customer service.
Jitendra
Ajmer, July 26, 2022
Qiuck claim
I purchased a home insurance policy recently. However, due to a natural calamity, my house was damaged as the pressure of the water because of flood broke the enterance door of my house. But the insurance plan that i bought got me covered and i as able to get the quickest claim possible.
Prashant
Delhi, July 26, 2022
Natural calamities covered
I bought a home insurance policy recently. As i live near a river and in the rainy season, my area gets flooded so in order to protect my house and its contents, i purchased the insurance to get coverage for such natual calamities and i am tension free now.
Sharad
Kolkata, July 26, 2022
Wide coverage
The home insurance plan that i purchased from policybazaar's website is a great plan that provides me coverage for not only the structure but also cover several expensive content of the home such as paintings, mobile phones, laptops, television, etc.
Ravi
Ahmedabad, July 26, 2022
Suitable insurance plan
I purchased the group health insurance policy from Policybazaar website. First of all, i did not have to wander much online while lookig for a home insurance plan that fits my requirement and i found the suitbale home insurance plan by comparing different plans on the website.
Yashashvi
Amritsar, June 09, 2022
Natural calamities covered
I bought a home insurance policy recently. As i live near a river and in the rainy season, my area gets flooded so in order to protect my house and its contents, i purchased the insurance to get coverage for such natual calamities and i am tension-free now.
  • Disclaimers+

    #Savings of 28% are based on the comparison between the highest and lowest premiums for a pucca building with sum insured of ₹ 1 crore at Delhi, for property age less than 5 years and policy term of 11 years.

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